China’s primary aluminium inventories extend gains; A00 ingot price down by RMB20/t
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased by 1,000 tonnes from August 1 to stand at 1.041 million tonnes as of Thursday August 8. Inventories rose for a second straight week this week, as a low consumption season continued.
The chart below indicates the current status of primary aluminium inventories across all major China markets:
Stocks of primary aluminium in Wuxi, Jiangsu decreased 1,000 tonnes from August 1 to 304,000 tonnes on Thursday. Inventories in Shanghai and Gongyi, Henan rose 3,000 tonnes and 7,000 tonnes to stand at 202,000 tonnes and 114,000 tonnes. Primary aluminium stocks in Nanhai, Guangdong remained unchanged at 274,000 tonnes.
A00 aluminium ingot price stood at RMB 13880 per tonne on Thursday, 08 August 2019, down RMB 20 per tonne from its previous price of RMB 13900 per tonne. The average price is expected to move within a range of RMB13860-13900 per tonne.
Aluminium ingot price in Foshan and Wuxi dropped RMB 20 per tonne each to stand at RMB 13870 per tonne and RMB 13880 per tonne. Aluminium ingot price in Hangzhou came in at RMB 13910 per tonne, down RMB 10 per tonne.
On Thursday, 08 August 2019, aluminium ingot prices in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stood at RMB 13870 per tonne, RMB 13845 per tonne, RMB 13870 per tonne, RMB 13870 per tonne and RMB 13740 per tonne.
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